Archive
April 6, 2016
Worth Avenue Capital, LLC of Guilford, Connecticut is pleased to announce that it just successfully closed a $50,000 commercial loan for a Connecticut based lawn care company. The loan proceeds were used by the borrower for debt consolidation purposes and the loan is secured by a first mortgage on investment real estate in Old Saybrook, CT with an underlying Loan to Value of 20%. The loan was funded by one of WAC’s private investors.
The borrower had some challenging credit issues that have prohibited them from obtaining conventional bank financing. As a result of the loan that was funded by WAC, the borrower’s credit problems have subsided and they should qualify for a bank loan in the near term to enable it to pay off WAC’s bridge loan.
Share
Recent Posts
What to Do When Your Money Market Isn’t Cutting It
Two weeks ago, I walked into my local bank branch in Palm Beach to check on my money market account. To my surprise,...
Worth Avenue Capital Closes $200,000 Follow-On Bridge Loan for Hedge Fund Principal in Greenwich, CT
Worth Avenue Capital, LLC is pleased to announce the successful closing of a $200,000 follow-on bridge loan for the principal of a hedge...
Worth Avenue Capital Closes $2.5 Million CRE Loan for Mixed-Use Development in West Hartford, CT
Worth Avenue Capital, LLC is pleased to announce the successful closing of a $2,500,000 commercial real estate loan to a New England-based real...